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Costing Variant Glossary

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Costing Variant Glossary
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  COSTING VARIANT GLOSSARY ã Cost Component Group: A group of cost components presenting a condensed view of cost components in te information s!stem ã Cost Component: A grouping of cost e ements tat groups te costs of a materia according to te re#uirements for materia va uation $e%g% raw materia & direct a'or& overead& etc%( ã Cost ) ement: Items in a cart of accounts tat are re evant to cost% *ost wi correspond to an income statement G+L account ã Cost )stimate: A too for p anning costs and setting prices for materia s% Ca cu ates te cost of goods so d or cost of goods manufactured, provides a 'asis for materia va uation wit standard costs ã Costing Seet: Contro s te ca cu ation and app ication of overead ã Costing T!pe: -e.nes te purpose of a materia cost estimate& and de.nes wic materia master .e d is updated '! te cost estimate ã Costing Variant: /e! tat determines ow a cost estimate is performed and va uated% -etermines te va id dates for a cost estimate& ow te 0O*s and routings are se ected& wic prices are used to va uate te #uantit! structure& and ow overead is ca cu ated $costing seet( ã -ate Contro : Contro s te dates on wic te #uantit! structure and va ue structure are created& te va idit! period of te cost estimate& and te dates on wic #uantit! structure is determined and va uated ã *oving Average 1rice: A price used to va uate materia s% Canges wit goods movements and invoice entr!% ã Overead Costs: Costs tat cannot 'e traced direct ! to a product% Tese costs are a ocated '! means of overead 2e!s% ã 1roduct Cost '! Order: Component for costing products '! order% Can inc ude production orders or process orders% ã 1roduct Cost 1 anning: Component for p anning te costs of products 'efore an order to commence manufacturing is p aced% Inc udes too s for p anning costs and setting prices for materia s $cost estimate wit or witout #uantit! structure( and for oter o'3ects of cost accounting $'ase o'3ect costing& simu ation costing(% ã 1roduction Order: A re#uest as2ing production to manufacture a speci.c #uantit! of amateria on a speci.c date% A so o ds te cost estimate for tis tas2%  ã 4uantit! Structure Contro : Contro s te se ection of 0O*s and routers ã 4uantit! Structure: 0asis for ca cu ating costs in a materia cost estimate% Genera ! consists of te 0O* and routing% ã Standard Cost )stimate: A materia cost estimate used to ca cu ate te standard pricein te materia master% 5sed for inventor! va uation in a standard cost $as opposed to moving average cost( environment% ã Standard 1rice: A constant price at wic a materia is va uated witout ta2ing goods movements and invoices into account% ã  Transfer Contro : Contro s ow te s!stem searces for cost estimates wen e6isting costing data are transferred to anoter cost estimate ã Va uation Variant: -etermines te prices used to va uate te #uantit! structure $e%g% materia master prices& activit! prices& costing seet used to ca cu ate overead& etc%(

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Jul 23, 2017

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Jul 23, 2017
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